Coretrust Lands 3 New Tenants at Downtown LA Tower

444 S. Flower St. Photo courtesy of Coretrust Capital Partners.

Coretrust Capital Partners has secured three new tenants at its FourFortyFour South Flower office tower in downtown Los Angeles. Dykema Gossett, Grant Thornton LLP and Esquire Depositions all signed new leases at the iconic 48-story building.

Dykema Gossett has leased the entire 21,750-square-foot 22nd floor for 12 years and will move in by December 2022. Grant Thornton has leased the entire 18,500-square-foot 31st  floor for 11 years and will take occupancy in September 2022. Esquire Depositions has leased 3,600 square feet on the 21st floor for 7 years and a half and is slated to occupy the space in June of this year.

In preparation for the new tenants, the owner will create 1,000-square-foot loggia terraces on the 22nd floor for Dykema, and on the 31st floor for Grant Thornton LLP. According to Founder & Managing Principal Thomas Ricci, Coretrust built the first loggia of this kind on the sixth floor, thus creating outdoor space indoors. He added that the loggia and the technologies that were installed provide virtually medical-grade air quality in the building, which enabled companies to keep working from their respective offices throughout the pandemic.

With the signing of the new agreements, Coretrust has leased a total of more than 60,000 square feet at the building within the past six months. JLL Capital Markets brokered Dykema’s deal, Cushman & Wakefield arranged Grant Thornton’s lease, while Stone-Miller worked on behalf of Esquire.

An environmentally friendly office gem in DTLA

FourFortyFour is among the first office buildings to be awarded the UL Tier-3 Healthy Building Mark for Indoor Environment. Last year, the building became the first development globally to earn the UL Verified Healthy Building Mark for Indoor Air and Water. Additionally, the property has earned LEED Gold Certification, ISAA’s Global Biorisk Advisory Council Star Certification and WELL Building Institute’s Health and Safety Certification.

Coretrust properties have already achieved carbon neutrality, an increasingly important aspect to tenants and investors. Coretrust is a signatory to the United Nations-supported Principles for Responsible Investing (UN PRI).

Built in 1981, the office tower at 444 S. Flower St. was renovated in 2011 and comprises 914,343 square feet of office space, according to CommercialEdge. A total of 601 parking spaces are also available, as well as 32,516 square feet of retail space. Other tenants at the location include PeopleSpace—which renewed its full-floor lease last year—and Syska Hennessy Group.